Pentair (NYSE:PNR) Issues Q2 2024 Earnings Guidance

Pentair (NYSE:PNR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.150-1.170 for the period, compared to the consensus EPS estimate of 1.160. The company issued revenue guidance of $1.1 billion-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Pentair also updated its FY24 guidance to $4.15-4.25 EPS.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PNR shares. Citigroup boosted their price objective on Pentair from $85.00 to $101.00 and gave the stock a buy rating in a research report on Monday, April 8th. TD Cowen increased their price objective on shares of Pentair from $80.00 to $85.00 and gave the stock a buy rating in a research report on Wednesday. UBS Group lifted their price objective on shares of Pentair from $83.00 to $91.00 and gave the stock a buy rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on Pentair from $88.00 to $94.00 and gave the stock a buy rating in a research report on Thursday, March 7th. Finally, Bank of America upgraded Pentair from an underperform rating to a neutral rating and upped their target price for the company from $46.00 to $76.00 in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Pentair has an average rating of Moderate Buy and a consensus price target of $89.93.

Pentair Stock Performance

PNR traded up $1.32 during trading hours on Friday, hitting $80.52. The company’s stock had a trading volume of 136,211 shares, compared to its average volume of 1,634,140. Pentair has a fifty-two week low of $53.88 and a fifty-two week high of $85.81. The company has a current ratio of 1.90, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $13.37 billion, a PE ratio of 21.06, a PEG ratio of 1.50 and a beta of 1.20. The company has a 50-day simple moving average of $80.27 and a 200 day simple moving average of $71.84.

Pentair (NYSE:PNR) last announced its earnings results on Tuesday, April 23rd. The industrial products company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Pentair had a net margin of 15.30% and a return on equity of 20.16%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. Pentair’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts expect that Pentair will post 4.21 EPS for the current year.

Pentair Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Friday, April 19th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 18th. Pentair’s dividend payout ratio (DPR) is presently 24.47%.

Pentair Company Profile

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.